Pacer Advisors Inc. Buys 56,109 Shares of CSX Co. (NASDAQ:CSX)

Pacer Advisors Inc. raised its stake in shares of CSX Co. (NASDAQ:CSX - Free Report) by 18.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 356,140 shares of the transportation company's stock after buying an additional 56,109 shares during the quarter. Pacer Advisors Inc.'s holdings in CSX were worth $12,298,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CSX. Landscape Capital Management L.L.C. acquired a new position in CSX in the third quarter valued at about $754,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in CSX by 7.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,107,207 shares of the transportation company's stock worth $38,232,000 after buying an additional 75,238 shares during the period. Cornerstone Advisors LLC lifted its stake in CSX by 1.0% in the third quarter. Cornerstone Advisors LLC now owns 143,700 shares of the transportation company's stock valued at $4,962,000 after buying an additional 1,400 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of CSX in the third quarter valued at approximately $58,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of CSX by 19.9% in the third quarter. First Horizon Advisors Inc. now owns 18,283 shares of the transportation company's stock valued at $631,000 after buying an additional 3,031 shares during the period. 73.57% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CSX. Loop Capital cut their price objective on shares of CSX from $43.00 to $42.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. Wells Fargo & Company reduced their price objective on CSX from $35.00 to $34.00 and set an "equal weight" rating for the company in a research report on Thursday, October 17th. Citigroup lifted their target price on CSX from $42.00 to $44.00 and gave the company a "buy" rating in a research report on Tuesday, November 12th. Royal Bank of Canada reduced their price target on CSX from $36.00 to $35.00 and set a "sector perform" rating for the company in a research report on Thursday, October 17th. Finally, BMO Capital Markets lowered their price objective on shares of CSX from $40.00 to $39.00 and set an "outperform" rating on the stock in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, CSX presently has an average rating of "Moderate Buy" and a consensus target price of $38.78.

CSX Stock Performance

Shares of NASDAQ CSX opened at $35.78 on Friday. CSX Co. has a 12 month low of $31.65 and a 12 month high of $40.12. The stock has a 50 day moving average of $34.48 and a 200-day moving average of $33.94. The company has a current ratio of 1.39, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The company has a market capitalization of $69.00 billion, a P/E ratio of 19.24, a P/E/G ratio of 2.20 and a beta of 1.19.

CSX (NASDAQ:CSX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The transportation company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.02). CSX had a net margin of 24.77% and a return on equity of 28.92%. The company had revenue of $3.62 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the previous year, the company earned $0.42 earnings per share. CSX's revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, equities research analysts predict that CSX Co. will post 1.84 EPS for the current year.

CSX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, November 29th. CSX's payout ratio is 25.81%.

CSX Profile

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.

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